Tuesday 11 May 2021

Urgent steps needed to bail out football clubs

Urgent steps need to be taken to stop a number professional football clubs going bankrupt, according to a football association working party headed by former junior finance minister Wim Vermeend.

Last year, the clubs lost tens of millions of euros, thanks to the recession and downturn in sponsorship. Clubs also raised less money from transfers and tv rights.
The working party had made 20 recommendations in an effort to improve clubs’ financial performance, Nos tv reported.
The most important is a pre-season pledge that they do have enough cash to reach the end of the season. Too many clubs are too optimistic about their budgets, Nos quoted Vermeend as saying.
At the start of the 2009/2010 season, the Netherlands had 38 professional football clubs, 18 in the premier division and 20 in the first division. First division side Haarlem was declared bankrupt in January.
Premier and first division clubs are also being urged to get players salaries under control. ‘Many clubs are spending 80% of their income on salaries and that is too much,’ Vermeend said.

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